FXstreet.com (Barcelona) - The Pound seems to have managed to pull itself together and take back the ground lost after negative Unemployment and PSNB data, bouncing from 1.4520 low, the pound reaches levels right above 1.4605 previous intra-day low at the time of writing.
On the upside, the Pound could find resistance at 1.4700 (Intra-day high) and above there, probably 1.4755 (Apr 17 low) and 1.4815 (Apr 20 high). In case of diving back below 1.4605/00 again, next support could be at 1.4520 intra-day low, and below there 1.4465 (Apr 21 low)
On a longer perspective, Mohammed Isah, technical analyst at FXTechstrategy, sees the Pound moving with a bearish attitude: Even though GBP reversed part of its Monday losses to close higher at 1.4688, as long as it continues to trade below its invalidated rising channel, threats remain to the downside. In that case, its April 21'09 low at 1.4467 will come in as the next downside objective with a cut through there paving the way for a decline towards the 1.4305 level, its Mar 06'09 high and then the 1.4111 level, its Mar 30'09 high.
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